The IFRS Interpretations Committee’s work
The main activity of the IFRS Interpretations Committee (Interpretations Committee) is to discuss application questions from stakeholders and decide how to respond to those questions.
Often the Interpretations Committee responds to a stakeholder’s question by publishing an agenda decision with explanatory material. In such cases, the Interpretations Committee concludes that the principles and requirements in IFRS® Standards provide an adequate basis for companies to determine their accounting, so standard-setting is not needed.
In other cases, the Interpretations Committee concludes that responding to a question requires adding to or changing IFRS Standards, by means of an IFRIC® Interpretation or a narrow-scope amendment.
View the section below for an overview of the annual activities of the Interpretations Committee.
In 2016 the Interpretations Committee held 6 meetings and considered 33 different application questions.
The Interpretations Committee responded to 25 of those questions by developing 16 agenda decisions and 9 draft amendments or additions to IFRS Standards for the International Accounting Standards Board (Board) to consider.
For the remaining 8 questions, the Interpretations Committee concluded that the topics were too broad for it to address efficiently within the confines of existing IFRS Standards. The Board has considered, or will consider, those topics in setting its agenda.
Agenda decisions (or
tentative agenda decisions)
published in 2016 including
included in the Board's work plan
Most of these topics are part
of the Board's active or
future research projects
The Interpretations Committee developed IFRIC 22 Foreign Currency Transactions and Advance Consideration, which was ratified and issued by the Board in December 2016.